Another new hotel for the Times Square area

The Times Square area continues to draw new hotels. Crain's New York reported that plans for the future arrival of another are underway. Land has been acquired on West 50th Street, and financing for the construction of a 78,000 square foot hotel on a site presently occupied by a parking garage is in place. The hotel will be located on 50th Street between 7th and 8th Avenues. It is a joint project of Brack Capital Real Estate and an unnamed partner that has developed hotels in Europe. Construction will begin in the first quarter of next year and is expected to take two years.

Cole, Marine. Hotel to rise debt-free in Times Square. Crain's New York. November 12, 2010.